What are the simplified operating steps for placing entrusted orders on OYi Contract?

To place an entrusted order on OYi Contract, one must register an account, select a trading pair and market, set the order parameters, and place the order, which can then be monitored and potentially modified or canceled.

Jan 28, 2025 at 07:49 am

Key Points

• Open an OYi Contract account and deposit funds.
• Choose a trading pair and market.
• Set the order parameters (type, price, quantity).
• Place and monitor the order.
• Modify or cancel the order (optional).

Simplified Operating Steps

1. Open an Account and Deposit Funds

• Visit the official OYi Contract website and register for an account.
• Complete the KYC (Know-Your-Customer) process to verify your identity.
• Deposit funds into your account via supported methods (e.g., cryptocurrencies, credit card).

2. Choose a Trading Pair and Market

• Navigate to the "Markets" section and select the desired trading pair (e.g., BTC/USDT).
• Choose the preferred market (e.g., Spot, Margin, or Futures).

3. Set the Order Parameters

Order Type

• Limit Order: Execute the order at a specified price.
• Market Order: Execute the order immediately at the best available market price.

Price

• Limit Order: Set the desired price for the order.
• Market Order: The price is determined automatically by the market.

Quantity

• Enter the desired amount of the underlying asset (e.g., BTC) to be traded.

4. Place the Order

• Click on the "Place Order" button.
• Review the order details and confirm the execution.
• The order will be submitted and executed according to the specified parameters.

5. Monitor the Order

• The order status can be tracked in the "Open Orders" section.
• Once the order is executed, the execution details will be displayed in the "History" section.

6. Modify or Cancel the Order (Optional)

• To modify an open order, click on the "Modify Order" button and adjust the parameters.
• To cancel an open order, click on the "Cancel Order" button.

FAQs

Q: What are the fees associated with placing an entrusted order on OYi Contract?

A: OYi Contract charges maker and taker fees for each order. The fee structure varies depending on the trading pair and market.

Q: How long does it take for an entrusted order to be executed?

A: The execution time depends on the order type and market conditions. Market orders are typically executed immediately, while limit orders may take some time to fulfill.

Q: What happens if my order is not executed fully?

A: If an order is not executed fully, the remaining portion will remain open and be executed when the market price meets the specified parameters.

Q: Can I place multiple entrusted orders simultaneously?

A: Yes, you can place multiple entrusted orders at the same time. Each order will be executed independently based on its own parameters.

Q: What is stop-loss order?

A: A stop-loss order is a type of market order that is triggered when the price of the underlying asset reaches a specified level. It is used to limit potential losses in a trade.